What is the cost basis of the new molding machine

Reference no: EM13184554

You purchased a new molding machine for $155,000 by trading in a similar machine that had a book value of $18,000. Assuming that the trade?in allowance was $20,000 and that $85,000 cash was paid for the new asset, what is the cost basis of the new molding machine for depreciation purposes?

Reference no: EM13184554

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